ARLINGTON, Texas: Major League Baseball owners will vote Friday to approve the sale of the New York Mets to billionaire hedge fund manager Steve Cohen, according to a person familiar with the situation.
The person spoke to The Associated Press on condition of anonymity Tuesday night because details of the ongoing process had not been announced.
The proposed purchase of 95% of the Mets by an entity of Cohen was already approved by MLBs ownership committee. Cohen needs approval from 23 of the 30 club owners for the deal to be finalized. The sale values the franchise at $2.4 billion to $2.5 billion.
The current Mets ownership group is headed by Fred Wilpon, brother-in-law Saul Katz and Wilpons son Jeff, the teams chief operating officer. The Wilpon and Katz families would retain 5% of the team.
Cohen first bought into the Mets when the team sought $20 million in minority investment stakes following the collapse of Bernard Madoffs Ponzi scheme, which was costly to the Wilpons and their companies. The limited partnership shares were sold after a proposed $200 million sale of a stake of the Mets to hedge fund manager David Einhorn fell through in 2011.
The 64-year-old Cohen is CEO and president of Point72 Asset Management.
He already has announced that Sandy Alderson will return to the Mets as team president under Cohen.
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